Indonesias November HBA thermal coal price hits multi-year high

www.platts.com

Indonesias Ministry of Energy and Mineral Resources has set its November thermal coal reference price, also known as Harga Batubara Acuan or HBA, at $84.89/mt, a jump of 23% from October and the highest level seen in more than 3 1/2 years.

November HBA also represents a 56% surge from a year ago. The HBA was last set higher at $85.33/mt in May 2013.

The rally in HBA prices since May this year has been largely driven by a mix of supply cuts and strong demand from China.